Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 5 months ago, 07/21/2024

User Stats

4
Posts
1
Votes
Vitaliy Hayda
1
Votes |
4
Posts

Land search with GPT-4

Vitaliy Hayda
Posted

6 months ago, I built a crude Google Sheets land search tool with GPT-4 post-processing to transform descriptions into yes/no answers. Within 3 weeks, we had a shortlist of 9 lots and ended up buying one. However, the other 8 have since sold too 🤔. Perhaps a tool like this could help spot supply-demand imbalances and/or misspriced lots; then those under-$40k lots (avg) could be bought & resold for 1.3-1.5x.

Here's a public test of the currently listed lots, three per state, suggested by the tool:

GA:
- https://www.realtor.com/realestateandhomes-detail/Ralston-Ga...
- https://www.realtor.com/realestateandhomes-detail/71-Laurel-...
- https://www.realtor.com/realestateandhomes-detail/Aubery-Ln-...

ME:
- https://www.realtor.com/realestateandhomes-detail/68-Quarry-...
- https://www.realtor.com/realestateandhomes-detail/9-Surry-By...
- https://www.realtor.com/realestateandhomes-detail/Sunset-Hil...

NC:
- https://www.realtor.com/realestateandhomes-detail/Old-Crows-...
- https://www.realtor.com/realestateandhomes-detail/Turkey-Run...
- https://www.realtor.com/realestateandhomes-detail/Bear-Cliff...

NY:
- https://www.realtor.com/realestateandhomes-detail/Hemlock-Ln...
- https://www.realtor.com/realestateandhomes-detail/Middlefiel...
- https://www.realtor.com/realestateandhomes-detail/231-Burke-...

PA:
- https://www.realtor.com/realestateandhomes-detail/Purple-Mar...
- https://www.realtor.com/realestateandhomes-detail/14-Pocono-...
- https://www.realtor.com/realestateandhomes-detail/Billy-Ln-L...

VA:
- https://www.realtor.com/realestateandhomes-detail/Dillards-H...
- https://www.realtor.com/realestateandhomes-detail/Egypt-Bend...
- https://www.realtor.com/realestateandhomes-detail/Riverbend-...

The areas where the tool "looks" were pre-screened. The 18 lots have an average price of $39,683 and a median price of $42,000, with an average acreage of 2.06 and a median acreage of 1.78. Assuming a 15% average negotiated discount, the $607,143 would secure a diversified portfolio of 37.15 acres, or $16,343 per acre.

Attached are some screenshots of the "tool" and a "pre-screen" polygon of areas that I have subjectively deemed promising. Curious to see what happens 3 to 6 months to test the idea. Feedback welcome!

Loading replies...